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Service Stream Says Dimensional Entities Cease to Be Substantial Holder

Service Stream (ASX:SSM) said Dimensional Entities has ceased to be a substantial holder in the company on May 8, according to a Wednesday Australian bourse filing.

ASX:SSM

Asia97d ago

ES Group Unit to Dispose of Steel Tanker; Shares Surge 8%

Shares of ES Group (SGX:5RC) surged 8% on Wednesday after the offshore engineering company's subsidiary, ES Aspire, signed a binding memorandum of agreement to dispose of its 8,028 deadweight tonnage steel tanker to an unrelated third party.The unnamed buyer, who is involved in marine services and consultancy for regional tankers market, will pay a consideration of about $4.8 million for the Singapore-flagged vessel, according to a Tuesday filing with the Singapore Exchange.The disposal is expected to conclude before June 10.The transaction will allow the company to reduce its exposure to maintenance costs and to redeploy capital to its core business activities such as new building and repair segment, the filing said.

SGX:5RC

Asia97d ago

Update: Temple & Webster Sees Profitability Boost Following Margin Optimization Program; Shares Reach Near Three-Year Low

(Updates to add stock movement in the last paragraph and headline)Temple & Webster Group (ASX:TPW) implemented a margin optimization program in response to declining consumer confidence, and expects the move to boost profitability starting from the fourth quarter of fiscal 2026, according to a Wednesday filing with the Australian bourse.Following the initiative, the company's April earnings before interest, taxes, depreciation, and amortization (EBITDA) increased to around AU$2.5 million to mark "the most profitable April" in its history, per the filing.The online furniture and homewares retailer expects fiscal 2026 revenue to rise up to 12% from the previous year to a range of AU$665 million to AU$675 million, and anticipates EBITDA jumping as much as 17% to between AU$20 million and AU$22 million.Temple & Webster said its current margin run-rates would result in fiscal 2027 EBITDA nearly doubling to roughly AU$40 million even in a low-growth scenario."We remain firmly focused on growing our market share and reaching AU$1 billion in revenue by fiscal 2028," said CEO Mark Coulter.The company's shares fell nearly 6% in recent trading on Wednesday and earlier reached their lowest since June 2023.

ASX:TPW

Asia97d ago

TikTok Seeks Removal of EU Gatekeeper Status at Top Court Hearing

TikTok appealed to the European Union Court of Justice to remove its designation as a "gatekeeper" under the bloc's Digital Markets Act, according to a Tuesday press release.The video-sharing app obtained the designation in 2023 alongside other companies that have more than 45 million monthly views, according to Reuters.TikTok sought to challenge the designation, saying it has not yet reached the threshold, but a lower court dismissed the case, saying it met the criteria for "gatekeeper" status.During the hearing, ByteDance lawyer Bill Batchelor said the lower court erred in the case, arguing that TikTok did not gain significant market impact, did not act as a business gateway, and did not hold an entrenched market position.TikTok said up to 80% of its users use other platforms in parallel in a practice called "multihoming" and are not locked in to the app, the lawyer said.However, a European Commission lawyer negated TikTok's arguments, saying lock-in has occurred despite some level of multihoming.The EU Court of Justice will rule on the case in the coming months, Reuters said.

Shanghai Composite^SZSE

Asia97d ago

HMC Capital Says State Street Becomes Substantial Holder; Shares Fall 3%

HMC Capital (ASX:HMC) said State Street and its units acquired a voting power of 5.18% in the firm as of Monday, becoming a substantial holder, according to a Wednesday Australian bourse filing.State Street holds 21.4 million ordinary securities of the firm.Its shares fell 3% in recent trading on Wednesday.

ASX:HMC

Asia97d ago

Yuyuan Tourist Mart Fully Sells Shares Under Fourth Employee Stock Ownership Plan

Shanghai Yuyuan Tourist Mart (SHA:600655) fully sold all shares under its fourth employee stock ownership plan through the secondary market, according to a Wednesday filing on the Shanghai bourse.By October 2023, nearly 12.7 million shares in the company's repurchase securities account had been transferred to the plan at 3.79 yuan apiece.The Chinese department store operator will proceed with completing the plan's asset liquidation and its termination.

SHA:600655

Asia97d ago

Cuscal Completes Share Purchase Plan

Cuscal (ASX:CCL) completed its share purchase plan, which closed on May 6, with around AU$51.4 million in applications received, exceeding its AU$3 million target, according to a Wednesday filing with the Australian bourse.The company received valid applications from 1,757 eligible shareholders, including custodian level applications, with an average application amount of around AU$20,000, the filing said. The issue price of each new plan share is AU$4 apiece, and 750,366 new fully paid ordinary shares will be issued on Wednesday.The proceeds of the share purchase plan, together with the proceeds of the placement raising AU$30 million, will be used to fund the cash consideration and transaction costs for Cuscal's acquisition of Paymark.The company's shares were up over 1% in recent trading on Wednesday.

ASX:CCL

Asia97d ago

Black Box Completes Acquisition of Brazilian Technology Company

Black Box (NSE:BBOX, BOM:500463), through its step-down subsidiary Black Box Do Brasil Industria e Comercio, has completed the acquisition of Brazilian solutions integrator 2S Inovações Tecnológicas, according to a Wednesday filing to the Indian stock exchanges.All the terms and conditions about the acquisition have been duly completed on Wednesday, and the said acquisition took effect May 1, the statement said.The acquisition is expected to help Black Box achieve its long-term objective of reaching $2 billion in annual revenue by 2030.The company's shares were down over 2% in recent trade.

BOM:500463NSE:BBOX

Asia97d ago

Navigator Global Investments Says Norges Bank Acquires 5.17% Stake

Navigator Global Investments (ASX:NGI) said Norges Bank acquired a voting power of 5.17% in the firm as of Monday, according to a Wednesday statement.The bank holds 28.3 million ordinary securities of the firm.Its shares fell 1% in recent trading on Wednesday.

ASX:NGI

Asia97d ago

NTT DC REIT's DPU Beats IPO Forecast in Fiscal 2026

NTT DC REIT's (SGX:NTDU) declared a distribution per unit or DPU of $0.0556 for the fiscal year ended March 31, topping its IPO forecast of $0.0542 by 2.6%, according to a Tuesday filing with the Singapore Exchange.Shares of the data center-focused REIT were down over 1% in Wednesday trading.Amount available for distribution came in at $57.5 million, compared with the IPO forecast of $56.1 million.Net property income stood at $74.9 million, against an IPO forecast of $73.3 million, while gross revenue came in at $164.8 million, surpassing the IPO forecast of $160.8 million.Committed portfolio occupancy stood at 98.5% as at March 31, backed by a weighted average lease expiry of 4.5 years.

SGX:NTDU

Asia97d ago

Hongkong and Shanghai Hotels Posts Higher Q1 Occupancy Across All Regions

The Hongkong and Shanghai Hotels' (HKG:0045) first-quarter 2026 revenue per available room for its Peninsula hotels in Greater China surged to HK$2,902 from HK$2,211 a year prior, a Wednesday Hong Kong bourse filing said.Revenue per available room for other Asian locations rose to HK$2,856 from HK$2,568 a year earlier, while that for its US and European locations increased to HK$4,377 and HK$4,886 from $3,722 and $4,343, respectively.Occupancy rates for its Greater China locations swelled to 65% from 55% in the year-ago period, while the rates for its other Asian locations increased to 73% from 67% previously.Occupancy rates in the US grew to 63% from 55%, while those in Europe rose to 43% from 42%, according to the hotel operator.

HKG:0045

Asia97d ago

Miniso Forecasts Up to 200% Jump in Q1 Profit

Miniso (HKG:9896) expects profit for the first quarter to range between 1.23 billion yuan and 1.25 billion yuan, up 195% to 200% from 416 million yuan a year earlier, according to a Wednesday Hong Kong bourse filing.The retailer's revenue is expected to range from 5.68 billion yuan to 5.73 billion yuan, representing year-on-year growth of 28% to 29%.The expected profit growth was mainly driven by unrealized fair value gains from an AI-related investment, a 78 million yuan contribution from its investment in Yonghui Superstores, and the absence of one-off derivative issuance costs recorded a year earlier.

HKG:9896

Asia97d ago

Tsugami Logs 39% Boost in Fiscal-year China Segment Profit

Tsugami (TYO:6101) logged a segment profit of 31.16 billion yen in the 12 months ended March 31, 2026, in China, up 39% from 22.34 billion yen a year prior, according to a Hong Kong bourse filing Wednesday.Revenue for the period in China rose by 23% year over year to 111.04 billion yen from 90.48 billion yen in the year-ago period.Tsugami is the controlling shareholder of Precision Tsugami (China) (HKG:1651).

HKG:1651TYO:6101

Asia97d ago

Aristocrat Leisure's Fiscal H1 Segment EBITA Misses Estimate by 2%, Jefferies Says

Aristocrat Leisure's (ASX:ALL) fiscal first-half segment earnings before interest, taxes, and amortization (EBITA) of AU$1.53 billion was a 2% miss to Jefferies' estimate of AU$1.57 billion, per a Wednesday note from Jefferies.Gaming EBITA was in line with consensus, with slightly weaker margins offsetting revenue. Product Madness was a 7% miss compared to consensus EBITA, driven by a revenue miss.Content revenue growth accelerated to 25% year over year. However, it missed consensus expectations by 4%.The investment firm reaffirmed a buy rating and a price target of AU$62 on Aristocrat Leisure.Aristocrat Leisure's shares surged past 12% in recent Wednesday trade.

ASX:ALL

Asia97d ago

Market Chatter: Trump's China Trip to Boost Chinese Stocks, Morgan Stanley Says

U.S. President Donald Trump's trip to China is expected to bolster Chinese equities moderately if the current trade deal is extended, South China Morning Post reported Wednesday, citing Morgan Stanley.The American bank predicted Hong Kong's Hang Seng Index to rise 8% to 28,400, Hang Seng China Enterprises Index to increase 11% and MSCI China Index to climb by 12% in the second quarter, the report said.MSCI China could surge by up to 27% if U.S.-China bilateral relations improve, especially as China exits deflation, Morgan Stanley said, according to SCMP.Morgan Stanley's top sectors recommended for investment include energy and materials suppliers, healthcare, semiconductor and automation, the media outlet said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSE

Asia97d ago

Zheshang Securities Issues 1 Billion Yuan Short-Term Bonds

Zheshang Securities (SHA:601878) issued short-term bonds of up to 1 billion yuan, according to a Shanghai bourse filing on Wednesday.The bonds have a coupon rate of 1.50% and a term of 318 days, maturing March 25, 2027.The securities company's shares fell 1% during the midday trade.

SHA:601878

Asia97d ago

Commonwealth Bank of Australia's Fiscal Q3 Cash Earnings 1% Below Estimates, Jefferies Says

Commonwealth Bank of Australia's (ASX:CBA) fiscal third-quarter cash earnings were 1% below the estimates compiled by Visible Alpha and 1% above the prior second-half Jefferies run rate, Jefferies said in a note on Wednesday.The bank reported a cash net profit after tax of around AU$2.7 billion for the fiscal third quarter, up 4% from a year earlier. Operating income was flat in the three months to March 31 compared with the average of the first two quarters of fiscal 2026, as a 1% increase in net interest income was offset by lower other operating income.The bank is exposed to an over-indebted Australian household, which the analysts view as a headwind to growth as its high-quality, low-cost retail deposit base leaves it more exposed to falling interest rates.The investment firm retained its underperform rating and raised the price target to AU$142.26 from AU$140.83.Commonwealth Bank of Australia's shares tumbled 10% in recent Wednesday trade.

ASX:CBA

Asia97d ago

Changchun High-Tech Industry Gets China Nod for Gout Drug Trial

Changchun High-Tech Industry (SHE:000661) secured Chinese regulatory approval to begin clinical trials for fuxinqibai injection.The monoclonal antibody is indicated for reducing acute gout flares during early urate-lowering therapy, according to a Wednesday filing with the Shenzhen bourse.Shares of the drug manufacturer were down 2% in recent trade.

SHE:000661

Asia97d ago

Sinostar's Attributable Profit Jumps 54% in Q1

Sinostar PEC's (SGX:C9Q) net profit attributable to equity holders in the first quarter of the year surged 54% to 69.5 million yuan from 45.1 million yuan a year earlier, according to a Tuesday filing with the Singapore Exchange.Shares of the producer and supplier of downstream petrochemical products were up nearly 7% in Wednesday trading.Earnings per share came in at 0.0724 yuan compared with 0.047 yuan in the year-ago period.Revenue declined 11% year over year to 1.17 billion yuan from 1.31 billion yuan.

SGX:C9Q

Asia97d ago

BHP Group Shares Reach All-Time Peak as Copper Hits Record High

BHP Group's (ASX:BHP) shares rose past 3% in recent trading on Wednesday, earlier reaching an all-time peak, after copper prices hit a record high.Copper reached $14,196.50 per ton on the London Metal Exchange, Bloomberg News reported.

ASX:BHP

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